REGISTERED COMPANY NUMBER: 07518382 (England and Wales) REGISTERED CHARITY NUMBER: 1147480
TRUSTEES' REPORT AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023
FOR
THE IMAM MUHAMMAD ADAM FOUNDATION
THE IMAM MUHAMMAD ADAM FOUNDATION CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2023
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Page
Reference and Administrative Details 1
Trustees' Report 2 to 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Statement of Financial Position 8
Statement of Cash Flows 9
Notes to the Statement of Cash Flows 10
Notes to the Financial Statements 11 to 17
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THE IMAM MUHAMMAD ADAM FOUNDATION REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 30TH JUNE 2023
TRUSTEES
Mr Yusuf Ismail Delair Teacher Mr Ismail Ahmed Sader Manager Mr Fahim Ismail Sader Imam
REGISTERED OFFICE 372 East Park Road Leicester Leicestershire LE5 5AY
REGISTERED COMPANY NUMBER 07518382 (England and Wales)
REGISTERED CHARITY NUMBER 1147480 INDEPENDENT EXAMINER Watergates Ltd 109 Coleman Road Leicester LE5 4LE
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THE IMAM MUHAMMAD ADAM FOUNDATION
TRUSTEES' REPORT FOR THE YEAR ENDED 30TH JUNE 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30th June 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Imam Muhammad Adam Foundation is a non-profit organisation working to transform the lives of people from all walks of life. As a charity informed by broad Islamic values, we believe that a quality education is essential for the progression of society as a whole.
Our aims are to help pupils recognise their true potential and to unearth the true talents possessed by each pupil academically, morally and spiritually, through the advancement of education in children and young people so that they are able to take a place in society as mature, discerning and caring adults.
We strive to build a strong sense of community within the school looking to achieve this through the many events organised throughout the year.
The achievement of these aims and the evidence of the success of the pupils will enable us to further our efforts to take on more pupils and assist the wider community even further as we grow.
The charities objectives are:
To utilise specialised teaching methods to teach children up to 16 years old.
All students feel they have a better understanding of the Islamic faith.
All students succeed and achieve academic qualifications which are at least in line with national rates of progression.
To advance education for the benefit of the poor, the underprivileged and the general public by means of, but not exclusively, the provision or the assistance in the provision of educational activities and facilities; such as schools, libraries and training centres. We seek to achieve this through good foundations and teachers; giving them the support that they need.
To relieve financial hardship, distress and suffering among poor people, widow, orphans, refugees, victims of natural disasters and other people in need, by means of, but not exclusively, making grants or loans for providing or paying for equipment, services and facilities, including the provision for food, water, clothing, medical treatment, rehabilitation and accommodation for the said persons.
To advance the religion of Islam, by means of but not exclusively, promoting the teachings and tenets of Islam, provision of facilities for worship, provision of facilities for Islamic education and counselling, in accordance with the teachings of the Quraan and the prophet Muhammad (PBUH) as defined and interpreted by the Ahle-Sunnah-Wal-Jamaa-Ah to help young people, especially but not exclusively, through leisure time and recreational activities, so as to develop their capabilities that they grow to full maturity as individuals and as good citizens.
Significant activities
The charity carries out Islamic education in pursuance of its charitable aims. The trustees consider that this has provided benefit both to those who study at their centre and wider community of Leicester.
The charity also carries out academic education inclusive of different sciences, as part of its objective of supporting the success of pupils.
Fundraising and advertising is carried out by way of conferences and presentations.
Training and enhancement programmes are arranged for the wider community, as well extra-curricular activities for children.
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THE IMAM MUHAMMAD ADAM FOUNDATION
TRUSTEES' REPORT FOR THE YEAR ENDED 30TH JUNE 2023
OBJECTIVES AND ACTIVITIES
Public benefit
The trustees have given due consideration to the Charity Commission's published guidance on the Public Benefit requirement.
STRATEGIC REPORT
Achievement and performance
Students at The Imam Muhammad Adam Institute make excellent progress throughout the year. Assessment results and GCSE grades reflect the academic attainment. Students are also acquainted with social, teamwork and leadership skills supporting them to become active contributing members of society. An outstanding learning experience is provided to develop the talents through a broad and balanced curriculum, resulting in excellent feedback from colleges who have taken on students for further studies. Former students have become assets to their communities.
Pupil recruitment continues to remain strong at both schools with applications overwhelming the school admin. Attendance records are over 96%.
Testimonials and reflections from parents evidence the achievements of the organisation. Supportive parents voluntarily make large financial contributions which gives the school an opportunity to enhance facilities and education. Fundraisers have also provided monetary assistance.
The institute's achievements have allowed us to provide counselling services to the wider community. The trustees recognise the benefit this has brought to students, parents and the wider community of Leicester.
Comments from recent Ofsted visit:
Pupils flourish at this school. Staff foster a strong sense of harmony and belonging. Pupils have exceptionally positive attitudes to their school and learning. One pupil described the school as, 'A community of different backgrounds and cultures, united as one family, united in kindness.' It is a safe and happy place to be.
All staff and pupils live out the school's motto 'a tradition of excellence' founded on 'respect and courtesy'. Staff have very high expectations of what pupils can achieve. Pupils respond positively to the exacting demands made of them. They work hard in a calm and friendly environment. Leaders have expertly devised a range of activities that fosters excellent character development.
Staff successfully prepare pupils for life in modern Britain. Pupils set ambitious career goals. They are very well prepared for their futures. Staff are extremely proud of their pupils' achievements. Parents and carers are overwhelmingly positive about the school.
All pupils receive a high-quality education through a broad, rich and ambitious curriculum. Leaders are determined that all pupils succeed. Subject leaders identify precisely what knowledge pupils need to know and when. For example, the curriculum in mathematics is precisely engineered. Teachers skilfully revisit and build learning. This enables pupils to become accomplished mathematicians. Teachers are experts in their subjects. They plan and teach purposefully.
Financial review
Financial position
Incoming resources for the period amounted £782,256 (2022 : £718,298) and resources expended were £770,929 (2022: £717,229) thus generating a surplus of £11,327 (2022 : £1,069 surplus).
There are no known factors that are likely to affect the financial performance or position of the charity in the foreseeable future.
No significant events have occurred that have impacted the financial performance or position of the charity.
Principal funding sources
The principle source of income is fees; accounting for the significantly largest portion of the school's income. The trustees are continuing the strategy of deploying all net incoming resources to investing in the educational purposes and fabric of the primary and secondary schools.
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THE IMAM MUHAMMAD ADAM FOUNDATION
TRUSTEES' REPORT FOR THE YEAR ENDED 30TH JUNE 2023
STRATEGIC REPORT
Financial review
Reserves policy
The amount of the total reserves the charity holds as at 30 June 2023 amount to £29,027 (2022: £40,354).
The Trustees are hoping next year will be a successful year to generate a surplus in the financial statements to bring a positive outcome to the reserves.
Principal risks and uncertainties
The principal financial risks and uncertainties that the academy can face is reduction in students as this is the significant portion of the charity's funding. The charity has raised awareness of its facilities and has also attended conferences and presentations of the work it does in order to attract more pupils. This has been successful as the number of pupils have grown and more premises are being sought.
Rising costs is another potential risk, including the cost of maintenance of its premises, staff costs and also materials for the children. This is continuously assessed by the chair of trustees in order to ensure there such costs are sufficiently budgeted for. Further awareness raising activities have resulted in an increase in the number of pupils which in turn provides more funding to cover any increases in costs.
Future plans
The charity will continue to strive to improve the levels of performance of its pupils and will continue its efforts to ensure pupils receive sound education.
We are looking to increase facilities for larger pupil capacity.
Donation programmes have been set up which have supplemented funds on a monthly basis.
The charity is looking into options in which the interest free loans extended by various individuals can be repaid as soon as possible.
We seek to provide more ad hoc facilities for the local community.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The organisation is a charitable company limited by guarantee, incorporated on 4 February 2011. The company was established under a Memorandum of Association which the objects and powers of the charitable company and its governed under its Articles of Association.
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THE IMAM MUHAMMAD ADAM FOUNDATION
TRUSTEES' REPORT FOR THE YEAR ENDED 30TH JUNE 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational structure
The board of Trustees of the charity are responsible for the charity's strategic direction. The board of Trustees meet on a termly basis to discuss the activities of the charity.
The board of trustees are supported through the aid of volunteers who manage the daily running of the charity.
The management structure consists of a single level, being the trustees. Given the nature of the charity; the key decisions are only made by chair of trustees and are not required to be delegated to other staff.
The chair of trustees is responsible for the overall governance of the school, as well as the internal organisation and control of the school.
The chair of trustees is also responsible for setting the aims and objectives, policies and targets, as well as reviewing progress of the charity.
The principal undertakes the key leadership role overseeing the educational, pastoral and administrative functions in consultation with the senior staff. The day to day administration of both schools is understated within the policies and procedures approved by the chair which provide for only significant expenditure decisions and major capital projects to be referred to the trustees for prior approval.
Trustees' report, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 12th June 2024 and signed on the board's behalf by:
Mr Fahim Ismail Sader - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE IMAM MUHAMMAD ADAM FOUNDATION
Independent examiner's report to the trustees of The Imam Muhammad Adam Foundation ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30th June 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Nazir Malida FCCA
Watergates Ltd 109 Coleman Road Leicester LE5 4LE
12th June 2024
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THE IMAM MUHAMMAD ADAM FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30TH JUNE 2023
| 30/6/23 Unrestricted Restricted Total fund fund funds Notes £ £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 37,209 - 37,209 Charitable activities 5 Primary School 744,504 - 744,504 Other trading activities 3 - - - Investment income 4 543 - 543 Total 782,256 - 782,256 EXPENDITURE ON Charitable activities 6 Primary School 768,170 - 768,170 Other 2,759 - 2,759 Total 770,929 - 770,929 NET INCOME 11,327 - 11,327 RECONCILIATION OF FUNDS Total funds brought forward (40,354) - (40,354) TOTAL FUNDS CARRIED FORWARD (29,027) - (29,027) |
30/6/22 Total funds £ 16,863 684,974 16,052 409 718,298 715,038 2,191 717,229 1,069 (41,423) (40,354) |
|---|---|
The notes on page 0 form part of these financial statements
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THE IMAM MUHAMMAD ADAM FOUNDATION (REGISTERED NUMBER: 07518382)
STATEMENT OF FINANCIAL POSITION 30TH JUNE 2023
| Notes FIXED ASSETS Tangible assets 11 CURRENT ASSETS Debtors 12 Cash at bank and in hand |
Unrestricted Restricted fund fund £ £ 37 - 250 - 25,352 - |
Unrestricted Restricted fund fund £ £ 37 - 250 - 25,352 - |
30/6/23 30/6/22 Total Total funds funds £ £ 37 8,069 250 19,900 25,352 14,116 |
|---|---|---|---|
| CREDITORS Amounts falling due within one year 13 |
25,602 (41,873) |
- - |
25,602 34,016 (41,873) (51,405) |
| NET CURRENT ASSETS/(LIABILITIES) | (16,271) | - | (16,271) (17,389) |
| TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 14 |
(16,234) (12,793) |
- - |
(16,234) (9,320) (12,793) (31,034) |
| NET ASSETS/(LIABILITIES) | (29,027) | - | (29,027) (40,354) |
| FUNDS 16 Unrestricted funds |
(29,027) (40,354) |
||
| TOTAL FUNDS | (29,027) (40,354) |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The financial statements were approved by the Board of Trustees and authorised for issue on 12th June 2024 and were signed on its behalf by:
Mr Fahim Ismail Sader - Trustee
The notes on page 0 form part of these financial statements
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THE IMAM MUHAMMAD ADAM FOUNDATION
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30TH JUNE 2023
| Notes Cash flows from operating activities Cash generated from operations 1 |
30/6/23 30/6/22 £ £ 33,934 5,377 |
|---|---|
| Net cash provided by operating activities | 33,934 5,377 |
| Cash flows from investing activities Interest received |
543 409 |
| Net cash provided by investing activities | 543 409 |
| Cash flows from financing activities New loans in year Loan repayments in year |
6,000 - (29,241) (8,965) |
| Net cash used in financing activities | (23,241) (8,965) |
| Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period |
11,236 (3,179) 14,116 17,295 |
| Cash and cash equivalents at the end of the reporting period |
25,352 14,116 |
The notes on page 0 form part of these financial statements
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THE IMAM MUHAMMAD ADAM FOUNDATION
NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30TH JUNE 2023
| 1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 30/6/23 30/6/22 £ £ Net income for the reporting period (as per the Statement of Financial Activities) 11,327 1,069 Adjustments for: Depreciation charges 8,032 15,686 Interest received (543) (409) Decrease/(increase) in debtors 19,650 (6,000) Decrease in creditors (4,532) (4,969) |
1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 30/6/23 30/6/22 £ £ Net income for the reporting period (as per the Statement of Financial Activities) 11,327 1,069 Adjustments for: Depreciation charges 8,032 15,686 Interest received (543) (409) Decrease/(increase) in debtors 19,650 (6,000) Decrease in creditors (4,532) (4,969) |
1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 30/6/23 30/6/22 £ £ Net income for the reporting period (as per the Statement of Financial Activities) 11,327 1,069 Adjustments for: Depreciation charges 8,032 15,686 Interest received (543) (409) Decrease/(increase) in debtors 19,650 (6,000) Decrease in creditors (4,532) (4,969) |
|---|---|---|
| Net cash provided by operations | 33,934 5,377 |
|
| 2. ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS Net cash Cash at bank and in hand |
At 1.7.22 £ 14,116 |
Cash flow At 30.6.23 £ £ 11,236 25,352 |
| 14,116 | 11,236 25,352 |
|
| Debt Debts falling due within 1 year Debts falling due after 1 year |
(10,000) (31,034) |
5,000 (5,000) 18,241 (12,793) |
| (41,034) | 23,241 (17,793) |
|
| Total | (26,918) | 34,477 7,559 |
The notes on page 0 form part of these financial statements
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THE IMAM MUHAMMAD ADAM FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2023
1. ACCOUNTING POLICIES
BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
INCOME
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
EXPENDITURE
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost Equipment - 20% on cost
TAXATION
The charity is exempt from corporation tax on its charitable activities.
FUND ACCOUNTING
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
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THE IMAM MUHAMMAD ADAM FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30TH JUNE 2023
| 2. DONATIONS AND LEGACIES Donations 3. OTHER TRADING ACTIVITIES HMRC JRS 4. INVESTMENT INCOME Deposit account interest 5. INCOME FROM CHARITABLE ACTIVITIES Activity Charitable activities - fees Primary School 6. CHARITABLE ACTIVITIES COSTS Primary School 7. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets 8. TRUSTEES' REMUNERATION AND BENEFITS |
30/6/23 £ 37,209 30/6/23 £ - 30/6/23 £ 543 30/6/23 £ 744,504 30/6/23 £ 8,032 |
30/6/22 £ 16,863 30/6/22 £ 16,052 30/6/22 £ 409 30/6/22 £ 684,974 Direct Costs £ 768,170 30/6/22 £ 15,687 |
|---|---|---|
During the year, Mr F I Sader received remuneration as an employee (principal) as authorised by the governing document. Total remuneration was £14,400.
During the year, Mr Y I Delair received remuneration as an employee (teacher) as authorised by the governing document. Total remuneration was £8,400.
During the year, the spouse of a trustee (Mr F I Sader) received authorised remuneration as an employee (teacher) totalling £9,600.
During the year, the son of a trustee (Mr Y I Delair) received authorised remuneration as an employee (teacher) totalling £14,400.
During the year, the son of a trustee (Mr Y I Delair) received authorised remuneration as an employee (teacher) totalling £12,480.
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THE IMAM MUHAMMAD ADAM FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30TH JUNE 2023
8. TRUSTEES' REMUNERATION AND BENEFITS - continued
During the year, the son of a trustee (Mr Y I Delair) received authorised remuneration as an employee (teacher) totalling £12,480.
During the year, the son of a trustee (Mr Y I Delair) received authorised remuneration as an employee (teacher) totalling £14,400.
During the year, the daughter-in-law of a trustee (Mr Y I Delair) received authorised remuneration as an employee (teacher) totalling £14,400.
TRUSTEES' EXPENSES
There were no trustees' expenses paid for the year ended 30th June 2023 nor for the year ended 30th June 2022.
9. STAFF COSTS
| Wages and salaries Other pension costs The average monthly number of employees during the year was as follows: Full - Time Teaching and Administration Part - Time Teaching and Administration |
30/6/23 £ 492,513 3,536 496,049 30/6/23 15 34 49 |
30/6/22 £ 439,254 2,441 441,695 30/6/22 14 32 46 |
|---|---|---|
No employees received emoluments in excess of £60,000.
| 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 16,863 Charitable activities Primary School 684,974 Other trading activities 16,052 Investment income 409 Total 718,298 EXPENDITURE ON Charitable activities Primary School 715,038 Other 2,191 |
Restricted fund £ - - - - - - - |
Total funds £ 16,863 684,974 16,052 409 718,298 715,038 2,191 |
|---|---|---|
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THE IMAM MUHAMMAD ADAM FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30TH JUNE 2023
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10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted Total
fund fund funds
£ £ £
Total 717,229 - 717,229
NET INCOME 1,069 - 1,069
RECONCILIATION OF FUNDS
-
Total funds brought forward (41,423) (41,423)
TOTAL FUNDS CARRIED FORWARD (40,354) - (40,354)
11. TANGIBLE FIXED ASSETS
Fixtures
and
fittings Equipment Totals
£ £ £
COST
At 1st July 2022 and 30th June 2023 163,362 4,801 168,163
DEPRECIATION
At 1st July 2022 155,294 4,800 160,094
-
Charge for year 8,032 8,032
At 30th June 2023 163,326 4,800 168,126
NET BOOK VALUE
At 30th June 2023 36 1 37
At 30th June 2022 8,068 1 8,069
12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/23 30/6/22
£ £
Other debtors 250 19,900
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THE IMAM MUHAMMAD ADAM FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30TH JUNE 2023
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13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/23 30/6/22
£ £
Bank loans and overdrafts (see note 15) 5,000 10,000
Trade creditors 322 5,210
Social security and other taxes (4,545) 1,102
Wages control 37,769 32,183
Pension control account 867 450
Accruals and deferred income 2,460 2,460
41,873 51,405
14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30/6/23 30/6/22
£ £
Bank loans (see note 15) 12,793 31,034
15. LOANS
An analysis of the maturity of loans is given below:
30/6/23 30/6/22
£ £
Amounts falling due within one year on demand:
Bank loans 5,000 10,000
Amounts falling due between two and five years:
Bank loans - 2-5 years 12,793 31,034
16. MOVEMENT IN FUNDS
Net
movement At
At 1.7.22 in funds 30.6.23
£ £ £
Unrestricted funds
General fund (40,354) 11,327 (29,027)
TOTAL FUNDS (40,354) 11,327 (29,027)
Net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 782,256 (770,929) 11,327
TOTAL FUNDS 782,256 (770,929) 11,327
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THE IMAM MUHAMMAD ADAM FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30TH JUNE 2023
16. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.7.21 £ Unrestricted funds General fund (41,423) TOTAL FUNDS (41,423) Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 718,298 TOTAL FUNDS 718,298 |
Net movement At in funds 30.6.22 £ £ 1,069 (40,354) 1,069 (40,354) Resources Movement expended in funds £ £ (717,229) 1,069 (717,229) 1,069 |
|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Net movement At 1.7.21 in funds £ £ Unrestricted funds General fund (41,423) 12,396 TOTAL FUNDS (41,423) 12,396 |
At 30.6.23 £ (29,027) (29,027) |
|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund |
Incoming Resources resources expended £ £ 1,500,554 (1,488,158) |
Movement in funds £ 12,396 |
|---|---|---|
| TOTAL FUNDS | 1,500,554 (1,488,158) |
12,396 |
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THE IMAM MUHAMMAD ADAM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30TH JUNE 2023
17. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30th June 2023.
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